-- NQ daily trend = Up
-- NQ 60-minute trend = Down, and in minor oversold condition
-- NQ 5-minute trend = Down
NQ pullback down-move that started from the high on Thursday last week continued on Monday with NQ closing at just above intraday inflection price level for Tuesday, 7870.
NQ could go either way in the morning on Tuesday depending on where it opens in relation to its intraday inflection level, 7870.
-- Opening above 7870 is an indication NQ want to run up to test its 200-ma on the 5-minute chart.
-- Opening below 7870 is an indi9cation that NQ may want to drop lower down to 7800 support before rallying back up.
With the FOMC meeting scheduled for next week, the Fed is going to continue to support the stock market and will buy any decline.
